Tcr2 Therapeutics (NASDAQ:TCRR) Cut to Hold at Zacks Investment Research

Tcr2 Therapeutics (NASDAQ:TCRR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “TCR2 Therapeutics Inc. is a clinical-stage immunotherapy company developing T cell therapies for patients suffering from cancer. Its product candidate includes TC-210, TC-220, TC-410, TC-110 and TC-310 which are in clinical stage. TCR2 Therapeutics Inc. is based in Cambridge, Massachusetts. “

Separately, ValuEngine downgraded Tcr2 Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Tcr2 Therapeutics has an average rating of “Buy” and a consensus price target of $26.50.

NASDAQ TCRR traded up $0.01 during trading on Thursday, hitting $14.66. 1,612 shares of the company traded hands, compared to its average volume of 241,406. The business has a fifty day simple moving average of $16.94 and a 200 day simple moving average of $15.80. The company has a market capitalization of $371.96 million and a P/E ratio of -0.15. Tcr2 Therapeutics has a 12 month low of $10.04 and a 12 month high of $25.47.

Tcr2 Therapeutics (NASDAQ:TCRR) last released its earnings results on Thursday, August 8th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.11. On average, equities research analysts predict that Tcr2 Therapeutics will post -5.27 EPS for the current fiscal year.

In other news, major shareholder Morana Jovan-Embiricos sold 416,321 shares of Tcr2 Therapeutics stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.92, for a total value of $7,460,472.32. Insiders own 39.07% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. EcoR1 Capital LLC bought a new position in Tcr2 Therapeutics in the 2nd quarter worth approximately $231,000. Charles Schwab Investment Management Inc. bought a new position in Tcr2 Therapeutics in the 2nd quarter worth approximately $349,000. Parametric Portfolio Associates LLC raised its position in Tcr2 Therapeutics by 23.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 35,044 shares of the company’s stock worth $501,000 after purchasing an additional 6,672 shares during the last quarter. Vanguard Group Inc. bought a new position in Tcr2 Therapeutics in the 2nd quarter worth approximately $1,070,000. Finally, BlackRock Inc. bought a new position in Tcr2 Therapeutics in the 2nd quarter worth approximately $1,511,000. Hedge funds and other institutional investors own 33.21% of the company’s stock.

About Tcr2 Therapeutics

TCR2 Therapeutics Inc, a clinical-stage immunotherapy company, develops novel T cell receptor therapies for patients suffering from cancer. Its product candidates in pipeline comprise TC-210 mono TCR Fusion Construct T cells (TRuC-T cells) targeting mesothelin positive solid tumors; TC-220 that targets MUC16 positive solid tumors; and TC-310 and TC-410 dual TRuC-T cell programs targeting CD19/22 and MSLN/MUC16, as well as TC-110 mono TRuC-T cells targeting CD19-positive B-Cell hematological malignancies.

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